Yeah I think 2.7 is average for commerce/life sciences/engineering/physics/math. I can't really comment on humanities because I didn't take that many humanities classes. But I would say 2.7 is not too bad if you put it in perspective...

From my undergraduate degree I graduated in the top 10% of my graduating class (cumulative of all undergraduate years). Final year was top 4%. Does not convert to North American GPA (although I have always kind of wondered what constitutes a top 10% GPA in Canada). I was at a European university that is generally ranked alongside Canada's best-regarded universities (Alberta, Toronto, UBC, McGill).

what school was that? at UofT I believe you need a 3.10 to graduate with honours

Both of those seem really low to me. My university required "a grade point average of at least 3.60 over the last 10 full-course equivalents taken at the University, with no more than one "D" or "D+" grade and no failures."